Saratoga Research & Investment Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Saratoga Research & Investment Management reported 47 stock positions worth $1.9 billion. Its top holding was Alphabet Class A (GOOGL) at 11.8% of the portfolio, followed by Microsoft (MSFT, 7.6%) and Berkshire Hathaway Class B (BRK.B, 6.9%). Compared with Q3 2025, it opened 4 new positions, added to 4 and reduced 34. The biggest buy was JPMorgan US Quality Factor (JQUA, shares +4552%) and the biggest sale Oracle (ORCL, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- SARATOGA, CA
- CIK
- 0001477872
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0001477872-26-000001 ↗ filed Feb 5, 2026
Holdings Value
Holdings 47 stocks · $1.9B
| GOOGL Alphabet Inc. Class A | 11.81% | 719,847 | $225.3M | Reduce -8.8% |
| MSFT Microsoft Corp. | 7.57% | 298,708 | $144.5M | Reduce -1.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.94% | 263,262 | $132.3M | Reduce -1.8% |
| UL Unilever PLC-Sponsored ADR | 6.35% | 1,853,095 | $121.2M | Reduce -1.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 6.11% | 1,023,783 | $116.5M | Add +0.2% |
| MDT Medtronic PLC | 5.82% | 1,155,146 | $111.0M | Reduce -1.4% |
| JNJ Johnson & Johnson | 4.99% | 460,223 | $95.2M | Reduce -5.2% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 4.95% | 1,832,770 | $94.5M | Reduce -4.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 4.94% | 1,852,566 | $94.3M | Reduce -0.1% |
| ASML ASML Holding NV-NY Reg SHS | 3.94% | 70,236 | $75.1M | Reduce -4.9% |
| ORCL Oracle Corp. | 3.53% | 345,704 | $67.4M | Reduce -2.9% |
| GD General Dynamics Corp. | 3.33% | 188,679 | $63.5M | Reduce -4.4% |
| RTX RTX Corp. | 3.01% | 313,003 | $57.4M | Reduce -4.9% |
| LLY Eli Lilly & Co. | 2.71% | 48,155 | $51.8M | Reduce -21.6% |
| SBUX Starbucks Corp. | 2.62% | 593,466 | $50.0M | Reduce -4.6% |
| CHRW C.H. Robinson Worldwide Inc. | 2.59% | 307,641 | $49.5M | Reduce -6.0% |
| V Visa Inc. Class A | 2.05% | 111,697 | $39.2M | Reduce -4.2% |
| ACN Accenture PLC Class A | 1.91% | 135,584 | $36.4M | Reduce -7.2% |
| HD Home Depot Inc. | 1.65% | 91,391 | $31.4M | Reduce -4.5% |
| AAPL Apple Inc. | 1.65% | 115,542 | $31.4M | Reduce -7.1% |
| PG The Procter & Gamble Co. | 1.64% | 218,125 | $31.3M | Reduce -2.6% |
| HON Honeywell International Inc. | 1.43% | 139,685 | $27.3M | Add +65.8% |
| PEP Pepsico Inc. | 1.30% | 172,282 | $24.7M | Reduce -5.1% |
| DEO Diageo PLC-Sponsored ADR | 1.23% | 271,058 | $23.4M | Reduce -19.5% |
| NVDA Nvidia Corp. | 1.10% | 112,283 | $20.9M | Add +12.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.08% | 225,181 | $20.6M | Reduce -8.3% |
| WMT Walmart Inc. | 0.90% | 153,526 | $17.1M | Reduce -5.6% |
| CL Colgate-Palmolive Co. | 0.77% | 186,563 | $14.7M | Reduce -3.9% |
| ADBE Adobe Inc. | 0.66% | 36,153 | $12.7M | Reduce -13.3% |
| JQUA JPMorgan US Quality Factor | 0.54% | 162,442 | $10.3M | Add +4551.8% |
| NKE Nike Inc. Class B | 0.37% | 111,781 | $7.1M | Reduce -9.7% |
| GOOG Alphabet Inc. Class C | 0.07% | 4,239 | $1.3M | Reduce -0.4% |
| IVV iShares Core S&P 500 ETF | 0.06% | 1,688 | $1.2M | New |
| ZTS Zoetis Inc. | 0.05% | 7,400 | $931K | Reduce -93.3% |
| CSCO Cisco Systems Inc. | 0.04% | 10,737 | $827K | Reduce -0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.04% | 2,733 | $810K | Reduce -0.2% |
| AMGN Amgen Inc. | 0.04% | 2,358 | $772K | No change |
| KO The Coca-Cola Co. | 0.04% | 9,849 | $689K | Reduce -0.5% |
| APH Amphenol Corp. Class A | 0.03% | 4,005 | $541K | New |
| SYY Sysco Corp. | 0.03% | 7,295 | $538K | Reduce -0.3% |
| LOW Lowe's Cos Inc. | 0.03% | 1,992 | $480K | New |
| AMZN Amazon.com Inc. | 0.02% | 2,000 | $462K | No change |
| PAYX Paychex Inc. | 0.02% | 3,882 | $435K | No change |
| LMT Lockheed Martin Corp. | 0.02% | 695 | $336K | No change |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.02% | 2,977 | $305K | Reduce -0.3% |
| NVS Novartis AG-Sponsored ADR | 0.01% | 1,490 | $205K | New |
| UBFO United Security Bancshare | 0.01% | 11,000 | $111K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -2.9% | 3.53% | −1.67 |
| ZTS Zoetis Inc. | Reduce -93.3% | 0.05% | −0.79 |
| MSFT Microsoft Corp. | Reduce -1.6% | 7.57% | −0.60 |
| DEO Diageo PLC-Sponsored ADR | Reduce -19.5% | 1.23% | −0.44 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.1% | 4.94% | −0.41 |
| HD Home Depot Inc. | Reduce -4.5% | 1.65% | −0.37 |
| GD General Dynamics Corp. | Reduce -4.4% | 3.33% | −0.17 |
| PG The Procter & Gamble Co. | Reduce -2.6% | 1.64% | −0.15 |
| UL Unilever PLC-Sponsored ADR | Reduce -1.1% | 6.35% | −0.15 |
| SBUX Starbucks Corp. | Reduce -4.6% | 2.62% | −0.12 |
| ADBE Adobe Inc. | Reduce -13.3% | 0.66% | −0.10 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -8.3% | 1.08% | −0.09 |
| NKE Nike Inc. Class B | Reduce -9.7% | 0.37% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.8% | 6.94% | −0.07 |
| CL Colgate-Palmolive Co. | Reduce -3.9% | 0.77% | −0.03 |
| PEP Pepsico Inc. | Reduce -5.1% | 1.30% | −0.03 |
| V Visa Inc. Class A | Reduce -4.2% | 2.05% | −0.02 |
| SYY Sysco Corp. | Reduce -0.3% | 0.03% | −0.00 |
| AAPL Apple Inc. | Reduce -7.1% | 1.65% | −0.00 |
| TROW T Rowe Price Group Inc. | Reduce -0.3% | 0.02% | 0.00 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.04% | +0.00 |
| IBM Intl Business Machines Corp. | Reduce -0.2% | 0.04% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -0.2% | 0.04% | +0.01 |
| GOOG Alphabet Inc. Class C | Reduce -0.4% | 0.07% | +0.02 |
| MDT Medtronic PLC | Reduce -1.4% | 5.82% | +0.02 |
| WMT Walmart Inc. | Reduce -5.6% | 0.90% | +0.02 |
| ACN Accenture PLC Class A | Reduce -7.2% | 1.91% | +0.03 |
| RTX RTX Corp. | Reduce -4.9% | 3.01% | +0.14 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -4.9% | 3.94% | +0.22 |
| LLY Eli Lilly & Co. | Reduce -21.6% | 2.71% | +0.27 |
| JNJ Johnson & Johnson | Reduce -5.2% | 4.99% | +0.31 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -6.0% | 2.59% | +0.34 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Reduce -4.5% | 4.95% | +0.78 |
| GOOGL Alphabet Inc. Class A | Reduce -8.8% | 11.81% | +1.83 |
Portfolio Buys Q3 2025 → Q4 2025
| JQUA JPMorgan US Quality Factor | Add +4551.8% | 0.54% | +0.53 |
| HON Honeywell International Inc. | Add +65.8% | 1.43% | +0.51 |
| NVDA Nvidia Corp. | Add +12.5% | 1.10% | +0.13 |
| IVV iShares Core S&P 500 ETF | New | 0.06% | +0.06 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| LOW Lowe's Cos Inc. | New | 0.03% | +0.03 |
| DIS The Walt Disney Co. | Add +0.2% | 6.11% | +0.02 |
| NVS Novartis AG-Sponsored ADR | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 46 | $1.8B | GOOGL, NVO, BRK.B, MSFT, UL |
| Q1 2026 | 46 | $1.8B | GOOGL, MSFT, BRK.B, NVO, DIS |
| Q4 2025 | 47 | $1.9B | GOOGL, MSFT, BRK.B, UL, DIS |
| Q3 2025 | 43 | $1.9B | GOOGL, MSFT, BRK.B, UL, DIS |
| Q2 2025 | 44 | $1.9B | MSFT, DIS, GOOGL, UL, BRK.B |
| Q1 2025 | 44 | $1.9B | BRK.B, UL, DIS, GOOGL, MSFT |
| Q4 2024 | 44 | $2.0B | GOOGL, DIS, MSFT, RTX, BRK.B |
| Q3 2024 | 41 | $2.3B | RTX, UL, MSFT, GOOGL, BRK.B |
| Q2 2024 | 42 | $2.2B | GOOGL, MSFT, RTX, UL, BRK.B |
| Q1 2024 | 45 | $2.2B | RTX, DIS, MSFT, GOOGL, BRK.B |